An inexperienced bookkeeper prepared the following trial balance. Prepare a correct trial balance, assuming all account balances
Question:
Transcribed Image Text:
CHENG COMPANY LTD Trial Balance December 31, 2017 Debit £16,800 Credit Cash Prepaid Insurance Accounts Payable Unearned Service Revenue Share Capital-Ordinary Dividends Service Revenue Salaries and Wages Expense Rent Expense 3,500 3,000 4,200 13,000 4,500 25,600 18,600 2,400 £52,000 £39,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 84% (13 reviews)
CHENG COMPANY LTD Trial Balance December 31 2017 Debit Credi...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Cost Accounting questions
-
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances arenormal. PETTENGILL COMPANY Trial Balance...
-
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances arenormal. CINELLI COMPANY Trial Balance...
-
An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assuming all account balances arenormal. PELICAN COMPANY Trial Balance...
-
Let f: RR be a differentiable function such that its derivative f' is continuous and f(n) = 6. If F: [0, 1 by F(x) = f(t)dt, , and if ] R is defined (f'(x)+F(x)) cosx dx = 2 0 then the value of f(0)...
-
Computing materials, labor, and fixed cost variances Keedy Corporation makes mouse pads for computer users. After the first year of operation, Diane Keedy, the president and chief executive officer,...
-
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases....
-
What is the rate earned on average total assets?
-
Steve and Marie Venturini were involved in the operation of Steves Sizzling Steakhouse in Carlstadt, New Jersey, from the day their parents opened it in the 1930s. By the 1980s, Steve, Marie, and her...
-
Explain why the following four statements ask for the same information. (i) Find the roots of f(x) = 3x3 -3x-1 (ii) Find the x-coordinates of the intersections of the curve y=x3 with the line y = 3x...
-
Journalize the following transactions into the general journal. The chart of accounts, the trial balance from January, 1 2020, schedule of accounts payable, and the schedule of accounts receivable is...
-
An analysis of transactions for J. L. Kang & Co. Ltd. was presented in E1-8. Assume that August is the company's first month of business. Instructions Prepare an income statement and a retained...
-
From the ledger balances given below, prepare a trial balance for the Starr SE at June 30, 2017. List the accounts in the order shown on page 73. All account balances are normal. Accounts Payable...
-
During the year, Olivia recorded the following transactions involving capital assets. Gain on the sale of unimproved land (held as an investment for 4 years)......$ 4,000 Loss on the sale of a camper...
-
a. Zero bending moment b. Zero transverse displacement c. Zero shear force d. Zero slope \(W^{\prime \prime}=0\)
-
Determine the free-vibration solution of a string fixed at both ends under the initial conditions \(w(x, 0)=w_{0} \sin (\pi x / l)\) and \((\partial w / \partial t)(x, 0)=0\).
-
a. Zero bending moment b. Zero transverse displacement c. Zero shear force d. Zero slope \(W^{\prime}=0\)
-
Fill in the Blank. Rayleigh's method can be used to estimate the system _____________ natural frequency of a continuous system.
-
a. Zero bending moment b. Zero transverse displacement c. Zero shear force d. Zero slope \(W=0\)
-
A 200 g sample of aluminum is heated to 400C and then quenched into 2000 cm3 of water at 20C. Calculate the temperature of the water after the aluminum and water reach equilibrium. Assume no heat...
-
Should we separate the debt and equity features of convertible debt? Team 1: Pro separation: Present arguments in favor of separating the debt and equity features of convertible debt. Team 2: Against...
-
Rachael Ray Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock for $20,000. 3. Recorded depreciation of $17,000. 4. Paid salaries of $9,000....
-
Villa Company reported net income of $195,000 for 2010.Villa also reported depreciation expense of $45,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheet shows a...
-
The current sections of Bellinham Inc.s balance sheets at December 31, 2009 and 2010, are presented here. Bellinhams net income for 2010 was $153,000. Depreciation expense was $24,000. Instructions...
-
Which of the following is false about the chart of accounts?a. The ordering within assets in the chart of accounts represents therelative ease with which each could be converted into cash.b. The...
-
Predict which documents need to be requested from the client to effectively perform Assertion-based the engagement
-
An LLP has a(n) ________ tax benefit, where no tax is paid at the partnership level, and all profits and losses are reported on the individual partners' income tax returns. Group of answer choices C)...
Study smarter with the SolutionInn App